Will Premier Oil break support, or will it rise back to April 110p highs?

• 54-79p ascending channel since late December.
• Bounced from support around 86p. Now 101p (at time of writing)
• Will the pattern repeat itself, rising back to 110p?
• Shares -8% from 2019 highs; +66.7% from 2019 lows; +52% year-to-date
• Source: Dow Jones, Bloomberg, FT, Company News, AlphaTerminal

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Trading Premier Oil – An Example

Let’s say you like the Premier Oil range, you think it’s heading back up to 110p again. You decide to buy exposure to £10,000 worth of Premier Oil using a CFD, at the current price of 101p. To do this, you need £2,000.

Let’s assume Premier Oil rises back to 110p (+8.9%). Your profit would be £890, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 3% from the current price. Premier Oil falls 3% and hits your stop-loss. Your loss would be £300.

This is provided for information purposes only. It should not be taken as a recommendation.